Company Law : The issue concerns ineffective communication between auditors and governance bodies despite existing legal requirements. NFRA clar...
CA, CS, CMA : Analysis of legal and ethical limits on an Independent Director becoming Statutory Auditor, focusing on cooling-off restrictions u...
Company Law : Failure of the Board to appoint the first auditor within 30 days shifts the power to shareholders. The case clarifies strict adher...
Company Law : The case highlights how inadequate communication between auditors and those charged with governance violates auditing standards. T...
Company Law : Explains the legal requirement for signing financial statements and clarifies that responsibility rests with management, not the a...
Company Law : The issue involved auditor independence concerns arising from network relationships and control weaknesses. The report highlights ...
Company Law : NFRA identified serious deficiencies in audit quality, including poor documentation and weak independence checks. The report highl...
Company Law : NFRA found significant gaps in audit documentation and quality control systems during inspection. The report emphasizes the need f...
Company Law : The issue involved deficiencies in audit documentation and firm-wide quality control systems. The report highlights the need for s...
Company Law : NFRA found major deficiencies in audit documentation and archival practices. The report highlights the need for stronger controls ...
CA, CS, CMA : Supreme Court permits NFRA to continue audit regulatory proceedings against CAs where no final orders exist, but stays execution o...
CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...
Income Tax : Read the full text of Madras High Court's judgment on condoning the delay in income tax return filing by Kalvadangam Primary Agric...
Company Law : Challenge to constitutional validity of section 140(5) of Companies Act, 2013 fails and it is observed and held that section 140(5...
Company Law : The company has stated in its application that the auditor was not able to conduct the audit in timely manner also the auditor was...
Company Law : The CAG has issued revised directions for statutory auditors of government companies, effective May 23, 2025, covering investment ...
Company Law : The National Financial Reporting Authority imposes penalties on Deloitte and auditors for misconduct in the ZEEL audit, resulting ...
Company Law : CA Chirag Doshi faces a ₹5 lakh penalty for professional misconduct in the statutory audit of Ushdev International Limited for F...
Income Tax : NFRA imposes penalties on Venkatesh & Co. and debarment of partners for negligence during the audit of Coffee Day Enterprises Ltd,...
Company Law : NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibiliti...
ICAI’s AASB launches online expert panel for bank branch audit queries. Get guidance on RBI guidelines from April 1-15, 2025.
NFRA’s latest inspection report highlights audit lapses in top firms, raising concerns over auditor independence, ICFR verification, related party transactions & more.
NFRA’s 2023 inspection of Deloitte Haskins & Sells LLP finds improvements but notes ongoing issues in key audit areas.
NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, and the Companies Act 2013.
NFRA outlines audit strategy and planning requirements, emphasizing auditor communication with audit committees and compliance with auditing standards.
NFRA’s 2023 inspection of Walker Chandiok & Co. LLP reveals ongoing issues in independence and audit procedures.
NFRA’s 2023 inspection of SRBC & Co. LLP highlights audit quality issues, independence concerns, and compliance with auditing standards and ethical requirements.
NFRA inspection of PwC firms (PWCA & PW& Co CA) reveals deficiencies in related party transaction verification and documentation, raising concerns about audit quality.
Understand the appointment process, tenure, and reporting obligations for auditors under the Companies Act, 2013. Key rules, forms, and fraud reporting explained.
Summary of NFRA’s audit quality inspection of Lodha & Co., highlighting key deficiencies in audit documentation, independence policies, and quality control systems.
